Saudi Arabia 5G Service Market to Grow with Double Digit CAGR until 2026
Consistent penetration of fast speed internet is driving the growth of Saudi Arabia 5G Service Market, in the forecast period, 2022-2026.
According to TechSci report on, “Saudi Arabia 5G Service MarketBy End Users (Individual, Enterprises) By Application (Smart Cities, Connected Factories, Smart Buildings, Connected Vehicles, Connected Healthcare, Connected Retail, Smart Utilities, Others) By Communication Type (Fixed Wireless Access, Enhanced Mobile Broadband, Massive Machine-Type Communication, Ultra-Reliable Low-Latency) By Industry (Manufacturing, Media & Entertainment, Government, Energy & Utilities, Transportation & Logistics, Healthcare, Others) By Region, Competition Forecast & Opportunities, 2026”, Saudi Arabia 5G services market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026. Saudi Arabia 5G services market owes its growth to the factors like rapidly innovating reality and augmented virtualizations along with growing number of applications. Moreover, number of consumers for smart phones and tablets are rapidly increasing in the country and the fact is anticipated to aid to the exponential growth in the upcoming five years.
5G network connections gives the advantage of connecting multiple device at once and with the efficient working and internet connections, multiple consumer electronics that are incorporated with smart technologies, may support the growth of the Saudi Arabia 5G services market until 2026.
5G services involve 5G internet connections allowing the users to enjoy faster downloads, outstanding network reliability, making businesses efficient, etc. 5G services find their application in ultra-high definition video streaming, seamless video calling, smart home energy management, etc. Though government schemes and policies may put a minor delay in the growth, but rapidly increasing market players might outgrow the restraint in the subsequent years of forecast, until 2026.
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Saudi Arabia 5G services market is segmented by end users, application, communication type, industry, regional distribution, and competitional landscape. Based on application, the market is further bifurcated into smart cities, connected factories, smart buildings, connected vehicles, connected healthcare, connected retail, smart utilities, and others. Rapidly evolving technologies and their usage in the smart buildings is supporting the infrastructure industry. Internet connected factories; smart buildings are anticipated to hold the largest shares of the market segment in the upcoming five years. Moreover, the developments in the healthcare industry may register the fastest growing CAGR in the upcoming five years. On the account of the evolving medical devices, and services in the healthcare sector.
Based on communication type, the market is sub-segmented as fixed wireless access, enhanced mobile broadband, massive machine-type communication, and ultra-reliable low-latency.
A partial list of market player in the Saudi Arabia 5G service market includes Mobile Telecommunication Company Saudi Arabia K.S.C.P. (Zain), Saudi Telecom Company, Etihad Etisalat Company (Mobily), Integrated Telecom Company, Huawei Tech Investment Saudi Arabia Co. Ltd., Etihad Atheeb Telecommunications Co. (GO Telecom), Virgin Mobile KSA, Arab Satellite Communications Organization, Hewlett Packard Enterprise Int’l Trade BV Saudi, Nokia Al Saudia, among others. These market players hold larger shares of the market than the new market players. With the advancement of the technology, it is appropriate to say that the effective research and development of the technologically advanced services would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments and better service provisions.
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“5G internet connections are a revolutionary telecommunication services that has aided the uses of technology in various industry. The Kingdom of Saudi Arabia is one of the wealthiest economies and with the technological advancements they can afford, 5G connections to the smart infrastructure, smart healthcare, smart retail in going to multiply in the future five years. The Saudi Arabia 5G services market is anticipated to grow further in the upcoming five years on the account of the advancements that the country has incorporated into its various industries. Media and entertainment sector is experiencing the largest growth in the historical years and sees itself as a promising sector for the future of the market. New market players may integrate their services in various industry so as to bring revolutionizing growth in future,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia 5G Service Market By End Users (Individual, Enterprises) By Application (Smart Cities, Connected Factories, Smart Buildings, Connected Vehicles, Connected Healthcare, Connected Retail, Smart Utilities, Others) By Communication Type (Fixed Wireless Access, Enhanced Mobile Broadband, Massive Machine-Type Communication, Ultra-Reliable Low-Latency) By Industry (Manufacturing, Media & Entertainment, Government, Energy & Utilities, Transportation & Logistics, Healthcare, Others) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia 5G services market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia 5G services market.
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